At the organizational support of the Central Bank of Azerbaijan, the international payment system Visa Int. held a seminar for representatives of commercial banks on Prepaid Cards.
The seminar was told about the kinds of prepaid cards, their distinctive features, the existing international practice in this area, and the benefits of these cards from the point of view of the issuer and cardholders.
During the discussions, participants were informed about the more common types of prepaid cards, the main revenue and expenditure of the bank's card issuers on the product, the main factors taken into account by banks in the emission of the product.
The seminar was attended by Regional Manager of Visa Int on the Caucasus region Irina Kamkhadze, Director of prepaid card products in Russia and CIS countries Deniz Kononech, as well as representatives of commercial banks. -15D -
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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